Sunday, August 18, 2013

18 Aug 2013

Short term oversold.
Medium term neutral.
Long term overbought.

We're looking for a lower low on the composite indicator.

I'm not sure how much I will be able to post this week.

"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just a piece of paper. Deposits are merely book entries."
Modern Money Mechanics Workbook, Federal Reserve Bank of Chicago, 1975

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